Massive Budget Passed! Senate, Reps Approve Tinubu’s ₦54.99 Trillion 2025 

Massive Budget Passed! Senate, Reps Approve Tinubu’s ₦54.99 Trillion 2025 

The Nigerian Senate and House of Representatives have officially passed the 2025 Appropriation Bill, approving a total expenditure of ₦54.99 trillion for the fiscal year.

The budget includes key allocations for recurrent expenditure, capital projects, debt servicing, and statutory transfers. The breakdown is as follows:……READ MORE 

• Total Expenditure: ₦54.99 trillion
• Statutory Transfers: ₦3.65 trillion
• Recurrent (Non-Debt) Expenditure: ₦13.64 trillion
• Capital Expenditure: ₦23.96 trillion
• Debt Servicing: ₦14.32 trillion
• Fiscal Deficit: ₦13.08 trillion
• Deficit-to-GDP Ratio: 1.52%

The passage of the bill follows President Bola Tinubu’s revision of the initial proposal, which increased from ₦49.7 trillion to ₦54.2 trillion before being presented to the National Assembly. These adjustments aim to address pressing economic demands and boost infrastructural development.

The final budget approved by the Senate and House reflects an approximate increase of ₦7 billion over the initial proposal by President Tinubu in December 2024.

With the approval complete, the budget will now be transmitted to President Tinubu for assent, setting the stage for the implementation of fiscal policies and developmental programs in 2025.